The Turkic Investment Fund (TIF) and Kyrgyzstan’s National Investment Agency under the President have signed a memorandum of understanding aimed at boosting investment cooperation and attracting new projects to the country.

The agreement was signed in Bishkek during the business forum “Kyrgyzstan-Uzbekistan: Industrial Cooperation, Investment and Trade,” The Caspian Post reports via Achkabar.

Under the memorandum, the National Investment Agency will assist the TIF in identifying and implementing investment projects in Kyrgyzstan.

The fund, in turn, will work to attract financing, support cross-border investments and promote projects designed to strengthen economic integration among participating countries.

The agreement could provide Kyrgyz businesses and investors with additional opportunities to access financing while helping the country attract capital for new industrial and economic projects.

The Turkic Investment Fund is the first specialized international financial institution established by the Turkic states. Its authorized capital stands at $600 million.